EFTA01385280.pdf

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite iFigure 2: U.S. Existing Home Sales 'Figure 3: CPP - Home Improvement Series U.S. Exeeng Home Sales Caltruction Rut 11 Piece • Home Improvement (28R) • SA 00 300% 850 XkO% 20 210% no% MO% $200 0 110% 100% / 50 100% - 5150 10% I 40 15 30 00% 15100 00% s0 0% -50% g0' -200% 160 450% 10 .200% 0o -300% " • .254% lO r e cr e/Asecesete , co ,greteerc * Sao 40 it 55SViiSESSS%5S5S555F.555N5 DVS &M%2 Mane $an —Curry. ow. MR Son Nues-A• Bank 94%-anottuanian efookart 6.1ardwrg form* LP Sage. tivasth• Sre. US Cantu &erg.. [Figure 4: Leading Indicator of Remodeling Activir; Figure .Slider Home Price Index (National) JCHS Leading Indicator a RomcclaIng AcIMIs. (LIRA) Case - Sheet Home Pao Compost° lax 5350.0 • 304% 250 i no% • 15.0% SCO 1 z00% 10.0% 33500 - 150% I ISO I SO% I ROO 0 100% •0, 11c 0.0% 5150 0 • AvJ a " 40% MO 0 • 50 sox 1.50 -100% o • ISO% Soo -15.0% 55555 55555 555555555 EsP1O51tuttf Cass-ShIhr —Oienr Wei Sauce OnAICAt Bret JCHS Hirrant ifteenit013%.1. 10/4-% Saxe< 0.,rs:te ten' %%flay f-,,,nce IP Deutsche Bank Securities Inc. Page 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086564 CONFIDENTIAL SONY GM 00232748 EFTA01385280